Suture Anchor Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028
Global Suture Anchor Market: Snapshot
Suture anchors are devices that help in faster recovery of injuries. They are used when an athlete suffers a ligament detachment during practice or in a match.
Suture anchors are increasingly being used for reattaching tissue to bone, which is fueling product demand and hence, positively impact the overall suture anchors market.
Another factor fueling the suture anchors demand is sport-related injuries and ailments. Several sports involve the straining of bones and muscles in different parts of the body. Injuries to key body parts could fuel the suture anchors demand and propel the overall suture anchors market.
For pain-free movement of joints, ligaments and tendons must be injury-free. Suture anchors provide support to tendons and ligaments and helps the parts remain in excellent condition for long time periods. As a result, suture anchors have witnessed a surge in demand for tendon and ligament protection, propelling the overall suture anchors market as well.
Other advantages such as rapid and easy insertion and removal of suture anchors and excellent strength properties are also expected to propel the suture anchors market, in future.
North America is expected to account for a large share in the global suture anchors market due to an increasing population section suffering from sport-related injuries in countries such as the U.S and Canada, and availability of technologically advanced suture anchors, in this region. Players in the global suture anchors market are engaging in collaborations to improve their revenue share.
They are also looking at research and development undertakings to try and develop technologically innovative suture anchors, which would help in curing different types of injuries.
In future, the biodegradable variety of suture anchors could be in greater demand than metal suture anchors since they have a reduced load of failure.
Analysts believe that suture anchors could witness significant demand post the COVID-19 pandemic phase.
Global Suture Anchor Market: Overview
There are possibilities that an athlete might suffer detachment of a ligament or tendon and/or any other soft tissue in the body while practicing or during the game. These injuries are extremely painful and require intensive care. Since, they ligaments and tendons are essential for the smooth movement of the joint, they require a solid support to keep them in place during the healing period. As a result sutures anchors are in high demand. Owing to this growing demand for the anchors, the global suture anchor market is expected to witness a substantial growth in coming years.
TMR Research's report on global suture anchor market presents actionable insights for the players to support them with better decision making. Moreover, the report also enlightens various aspects such as notable developments, key opportunities, restraints, and regional analysis of global suture anchor market for the time frame of 2018 to 2028.
Global Suture Anchor Market: Notable Development and Competitive Analysis
Collaborating with various businesses is one of the major strategies that the players of global suture anchors market are adopting to have a sustainable future in the market. Moreover, acquisition is another step that is helping the businesses to expand their presence in the global market. The reason that is compelling the players to adopt these strategies is the growing competition in the market owing to joining of new players in the market. Already the market is fragmented and is stuffed with various players, it is quite natural that the addition of the new entrants in the global suture anchor market is expected to further intensify the completion.
Some of the instances where current players of market adopted the strategies of collaboration and merger are mentioned below:
Global Suture Anchor Market: Key Drivers
Growing Technological Developments to Propel the Growth of the Market
As a result of technological developments in healthcare sector and incorporation of emerging technologies such as IoT and Artificial intelligence in various surgical equipment are expected to boost the growth of global suture anchor market during the projected timer frame of 2018 to 2028. The market is expected to ride on developments such as STRATAFIX Spiral Knotless Tissue Control Device developed by DePuy Synthes. The suture anchor uses a unique technology that helps the sutures to maintain its line of approximation during the surgery by providing multiple fixation point.
Growing Demand for Bio-Composites Suture Anchors to Accelerate the Growth
Owing to benefits such as enhanced visibility of sutures during the surgery, swift insertion and removal of the sutures, and excellent strength of the anchors, the bio-composites sutures anchors are in high demand. Owing to this rising demand for the bio-composites sutures anchors, the market is expected to witness a robust growth in the projected time frame of 2018 to 2028.
Global Suture Anchor Market: Regional Analysis
Owing to the factors such as rising participation in sports by youth, and rising number of sports related injuries in U.S. and Canada, North America is expected to dominate rest of the regions of global suture anchor market. The growth is also attributed to the various technological developments by players across the regions.
The global suture anchor market is segmented on the basis of:
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